BitClub Network out of funds? ClubCoin announced…

Putting aside the fact that BitClub Network simply take newly invested funds and use it to pay off existing investors, the ruse behind the scheme is that BitCoin mining will somehow consistently deliver >100% ROIs every 1000 days.

That’s irrespective of how much is invested and irrespective of fluctuations in the value of BitCoin, otherwise BitClub Network’s premise doesn’t work.

Quite obviously, the only way >100% ROIs can be paid out by ignoring invested amounts and the value of BitCoin, is if the ROIs paid out are pegged to something else entirely.

That of course brings us back to newly invested funds, which appear to be running out.

Is BitClub Network on the verge of collapse? The introduction of ClubCoin certainly suggests so.

If BitClub did infact run out of newly invested funds, meaning they were relying solely on whatever mining operations they had going, affiliates would be likely to see fruitful ROIs promised – even after 1000 days.

The value of BitCoin has been in decline for a year, and doesn’t appear to be going up anytime soon. And even if it did, you’re still looking at a 36.6% annual ROI required just for BitCoin Club affiliates to break even (sans any recycled affiliate funds paid out as a ROI).

BitClub Network is excited to announce the Pre-Launch and Pre-Mining for a new Proof-of-stake coin called ClubCoin!

This coin will be issued to all BitClub members for FREE and will become an accepted currency of BitClub Network.

There are many ways to earn ClubCoin and as a member of BitClub you will have the opportunity to buy it, sell it, trade it, exchange it, or use it within BitClub Network for products and services.

With BitClub Network affiliate’s real money all but paid out, they’re now looking to pay people with a worthless virtual currency they’ve set up themselves.

And I know what you’re thinking, isn’t the whole point of BitClub Network y’know, BitCoin?

Yeah it is. But ClubCoin isn’t meant to be used outside of BitClub Network backoffices.

Oh they’ll tell you about grandiose plans for it to be the number 1 cryptocurrency and how eleventy billion merchants will be accepting as of yesterday etc., but make no mistake, it exists only so that BitClub Network can stop paying their affiliates cash ROIs each month.

After all, you can’t keep paying out cash (or even BitCoin for that matter) if there’s none left in the kitty.

Worse still, the method BitClub Network are using to distribute ClubCoin is “proof of stake”.

This fits right into BitClub Network’s existing investment model, with a promo video explaining that “the more coins you hold, the more coins you are issued”.

So in effect, those who have invested and re-invested the most in BitClub Network, stand to gain the most.

Well, the most of a cryptocurrency that holds no value other than the promise of new investor funds picking it up so that a value can then be assigned to it – all within the initial 1000 day period BitClub Network’s early adopters got on board.

I have no correlation wit the Bitclub Network however I do have knowledge of legitimate crypto currency by way of the blockchain etc.. a Proof of Stake coin / currency is not a fraud..

Peer Coin, (peer unity), Ruby Coin Black Coin and GCR Coin are some of the PoS (Proof of Stake) coins and they are legit and earning using the rewards on the network versus Proof of Work (PoW) which rewards the miner on use of electricity, skill and machinary such as Bitcoin, Litecoin, Feathercoin and many other coins today.

Lot more to it. Just get your knowledge on Blockchain and distribution of coin and you should never be scammed in this space unless you are not taking accountability.

Anyone smarter than me (that is most 🙂 ) please advice on this comment about clubcoin from a bitclub group. Is this a good thin? Is club coin legit or just a pawn making something out of nothing sound good?

Comment is in regards to this website bittrex.com/Market/Index?MarketName=BTC-CLUB

Bitclub is obviously putting their money where their mouth is. I have not see such beautiful buy support in a LONG time. (Buy support is the extra BTC on the buy side basically backing the price of the coin with BTC)

Michael Q Todd:
This is crazy! I have been getting paid out by Bitclub every day for 3 months straight…..
Instead of writing this stuff imagine if you had got involved instead? I joined when Bitcoin was $228 now it is $470. Do the math!

LOL. Ok, let’s do the math.

Seeing as you’re a hi flyer in this sort of sh*t, let’s suppose you went full ‘founder’ @ $3,599 3 months ago.

In that time, BCN will have credited you with ~0.02BTC per day for withdrawal, or a total of about 1.8BTC @ $470 = $883, so you’re down $2616. All you have in return is an untradable promise.

If you’d have taken that $3,599 and just bought bitcoin instead, you’d have $3713 profit, instantly convertable.

Actually no, you wouldn’t just have a poor investment and an untradable dodgy asset if you’d gone ‘founder’, you’d have access to the MLM matrix, which is of course, the only reason for BCN’s existence and the only reason for the interest in Bitcoin as currently being expressed by the likes of you and J.Ryan etc. etc. (laughed my ass off at JR’s latest hubris on FB, “Roger Ver and I”).

I see BCN have added 10 PH/s to their pool, under the reference BitClubfury. This may be new Bitfury machines or shared hashing, impossible to tell, but a couple of us have been looking thru the ‘totally transparent’ blockchain transactions outputs of BCN.

Why would a miner put newly minted coins straight thru a mixer? Various answers to that…..

I’m in it, been getting BitCoin paid daily…The site expressly states there is NO guaranteed ROI, so i’m not sure why i keep reading quotes about greater than 100% ROI expected or promised – that is not the case.

As someone who has been burned in programs like Zeek, i’m as skeptical as it gets – and at the same time, i have a bit of a lottery personality… so i’m the first to admit i’m definitely taking a chance here by being a founder in Bit Club Network. Like any other program, it could disappear tomorrow…

However, the blockchain and BCN itself is completely transparent. We are currently the 6th biggest mining pool…you or anyone can see exactly how many blocks we have gotten on a daily basis.

My personal hope is to have accumulated 40 – 60 bitcoin in the next 3 years or so…but nothing has been promised or guaranteed to me…

so is this a risk? Sure it is – it’s taking a chance that BitCoin may someday hit 10k/coin. I look at it as the best way for an average person to get involved in BitCoin mining…

I don’t have the tech savvy to do my own mining, and I don’t have the opportunity (or cash) to get into bigger pools like F2 etc.

Bitcoin and Club coin. Everyone just made because we making millionaires and people make excuses.

Why would a billionaire like Bill Gates and Sir Richard Brandson invest into bitcoin?? Exactly because the super rich are on a diff level. I can take my bitcoin go to the lamborghini dealership and buy a lamborghini. 🙂

Remember the Rich are Rich for a reason poor people will only make excuses to make themselves fell better about their broke ass lifestyle.

While I can blow 75,000 on watch. Bitclubnetwork is the best company out there. Humble people helping others become millionaires.

Yeah, BCN did what it set out to, provide a “Get on this hot new thang” hook to hang an MLM trough off of.

The rump does indeed stagger along, with dust payments for trapped punters (those that haven’t had their contracts ripped up) as can be seen clearly in the comments here: 99bitcoins.com/anatomy-bitcoin-scam-bitclub-network-analyzed/comment-page-1/

I’m more interested now in exactly how deep the relationship is between BCN and supposedly respectable Genesis mining.

BCN are reselling their ETH and Zcash schemes (and mustn’t forget the ill fated super arb trading bot) which probably confirms my suspicion that you never actually had any BTC miners and were just rebranding theirs all along.

Well this wouldn’t be the same Joby Weeks commenting how people are missing out on a great opportunity, that was listed as the founder of the company in previous recruiting videos?

Didn’t you mistype and mean to say there are 7.6 billion active members in bitclub? If you are going to exaggerate your pyramid scheme, why not go all the way and say everyone in the world is a member?

It was a nice complement to OZ though, acknowledging his website has done some great work, saving people from your scheme :).

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